Russia will require banks to report their customers' cryptocurrency transactions.

The Central Bank of Russia is planning new regulations requiring commercial banks to report in detail on their clients' cryptocurrency-related transactions. This requirement is part of an upcoming new reporting system for all cross-border fund transfers involving Russian citizens. According to the draft, banks will be required to report transactions involving the buying and selling of cryptocurrencies, providing information such as the identities of both parties, the specific method of fund transfer, the intermediaries involved in the transaction, and the fees charged. Furthermore, transactions involving digital rights, tokenized physical assets (such as securities and precious metals), and NFTs will also be reported separately.